Second charge mortgage numbers falls by 14%

12th September 2023

Latest figures from the Finance & Leasing Association (FLA) show that second charge mortgage lending fell by 14% in July.

Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer & Mortgage Finance and Inclusion at the Finance & Leasing Association (FLA), said “The second charge mortgage market reported new business 14% lower by both value and volume in July, reflecting more cautious consumer sentiment given the current economic environment. The average advance in July was £46,759, a similar level to the same month in 2022.”

“As always, customers who are concerned about meeting payments should speak to their lender as soon as possible to find a solution.”

New second charge mortgage lending

Jul 2023


 change on prev. year

3 months to Jul 2023

% change on prev. year

12 months to Jul 2023

% change on prev. year

Value of new business (£m)







Number of new agreements (No.)